2023-05-22 04:16:38
Prices of owner-occupied homes fell for the third month in a row in April. On average, buyers paid 4.4 percent less than a year earlier, according to figures from Statistics Netherlands and the Land Registry.
Last month, an average of 401,374 euros was paid for an owner-occupied home. That was more than 4 percent less than in April last year and also 1.1 percent less than last month.
Prices of owner-occupied houses are lower than a year earlier for the third month in a row. This is partly due to the rise in mortgage interest rates, which means that home buyers can borrow less.
According to experts, it also plays a role in the fact that house prices have risen so fast in previous years that sooner or later a correction had to be made. For example, owner-occupied homes were more than 20 percent more expensive in January 2022 than a year earlier.
Fewer homes sold
The figures also show that the number of homes sold has fallen sharply. In April, 12,816 homes changed hands. That is almost 20 percent less than the year before.
The number of homes sold has been falling for months. For example, there were 11 percent fewer transactions in the first four months of this year than in the first four months of last year.
This is partly because homeowners have become more cautious regarding putting their current home up for sale. They often do this only when they have already found another home.
The figures mentioned refer only to existing houses. New construction is not included.
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